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WTI Crude Surges 8% to Breach $90 per Barrel on Monday Amid U.S.-Iran Tensions

GateNews
Commodities

According to President Trump, WTI crude oil futures surged nearly 8% to breach $90 per barrel on Monday, reversing the previous session’s decline, as geopolitical tensions in the Middle East escalated. The U.S. Navy fired on and seized an Iranian-flagged cargo vessel in the Gulf of Oman after it disregarded a stop order and exited the Strait of Hormuz, Trump stated. Tehran subsequently attacked other vessels and reasserted control over the Strait of Hormuz, claiming U.S. blockades on Iranian-linked ships violated ceasefire agreements. The conflict has triggered significant energy supply disruptions.

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